The NFT avatar CryptoPunk #3100, once purchased for $16 million, has been sold at a loss of over $10 million — for just 4,000 ETH. The deal took place on Friday and became one of the most notable examples of loss realization in the digital collectibles space.

#3100 is one of the rare “aliens” among 10,000 unique characters released by Larva Labs back in 2017. Its value has always been driven by its rarity: only 9 such “aliens” exist and just 406 of them wear a headband. Despite the solid price, the new amount looks like a 500 ETH haircut — equivalent to $10 million, especially considering Ether has dropped nearly 60% over the past year.

NFT prices and trading volumes have dropped to early 2021 levels — the total volume on April 7 was just $58 million. While occasional spikes still occur, the overall trend shows a clear cooling of interest in once-iconic digital assets like CryptoPunks.